October 15, 2010

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Rupert Murdoch got a grilling from his company’s shareholders Friday about the “reputational risk” News Corp. created for its journalism outlets through its million-dollar donations to the Republican Governors Association and U.S. Chamber of Commerce.

Several speakers spoke on behalf of the Nathan Cummings Foundation, which had submitted a letter to News Corp.’s board, obtained by The New York Times's The Caucus blog, earlier this week asking for complete disclosure all political donations by Friday’s shareholders meeting, recorded by liberal watchdog Media Matters.

The foundation, which describes itself on its website as “rooted in the Jewish tradition and committed to democratic values and social justice,” owns a relatively small amount of News Corp. stock, valued at about $52,000.

“What we would like to know is, how did the board learn of these contributions, did the board formally approve these payments given their magnitude, and if so, could you please tell us how these contributions further the strategic interest of the company and its shareholders,” said Laura Shaffer Campos, the director of shareholder activities at the Nathan Cummings Foundation.

Murdoch began by pointing out that News Corp.’s PAC gave more money to Democrats than Republicans, and then addressed the two, much larger donations directly from the company’s coffers to organizations aggressively campaigning against Democrats this election cycle.

“We believe it certainly is in the interest of the country, and the shareholders and the prosperity that there be a fair amount of change in Washington,” he said.

Others speaking on behalf of the foundation pressed Murdoch on the risks associated with such a large donation to the U.S. Chamber of Commerce, considering the controversy around the organization in the news.

Murdoch insisted “there are no scandals, there are only allegations” about the Chamber, and pointed to a story in today’s Wall Street Journal as an indication that the relationship between the White House and the Chamber have some hope for improvement in the Peter Rouse era.

In response to questions about the board’s process for weighing the “reputational risk” of the large donations, Sir Roderick Eddington, chairman of News Corp.’s audit committee, indicated that News Corp. executives played a role.

“The board takes advice from its executives on this, listened to the case, acted accordingly,” he said, adding that the company’s general counsel reviewed them as well.

Early theories about the RGA gift suggested that it must have been engineered by Fox News chief Roger Ailes, who, like RGA Chairman Haley Barbour, worked for President Ronald Reagan. Barbour has since said that he asked Murdoch directly.

But last week, POLITICO asked Murdoch about the RGA gift, and he replied that it came about as a result of his friendship with former Fox anchor and Ohio Republican gubernatorial candidate John Kasich.

Lance Lindblom, the chief executive of the Nathan Cummings Foundation, cited this report when pressing Sir Eddington about returning the gift.

“The chair has been quoted in POLITICO as saying that his $1 million contribution to the Republican Governors Association ‘had nothing to do with’ News Corp., it was based on his personal friendship with Kasich,” he said. “Have you investigated this matter, and considered rescission of this contribution?”

The report actually quoted Murdoch as saying the gift had nothing to do with Fox News, not News Corp., which Murdoch pointed out in Friday’s meeting.

“I didn’t say it was nothing to do with News Corp.,” he said. “I did make a fully throwaway line — I was trying to — candidate Kasich, who used to work for us for a number of years.”

Lindblom also followed up on the request in the foundation’s letter, saying, “Does the company plan to join Time Warner and other leading companies in providing full disclosure and board oversight of its political contributions and payments to trade associations and other tax-exempt organizations that are used for political purposes?”

Other speakers expressed anger that shareholders only found out about the U.S. Chamber donation because of a leak to the press.

“We trust the chair, but we want to verify,” Lindblom said. “If he’s saying that he’s making a strategic contribution, I don’t see any reason why we can’t make these completely transparent so that shareholders and the public can judge.”

Sir Eddington said the board would consider it.

In response to other request for greater transparency to shareholders about the company’s political donations, Murdoch said: “We’ve considered from time to time. I don’t believe we’ll be doing it again. We’ll see.”

Now, let's get Obama, Soros, Peterson, Podesta, Begala, all of New York Times, NBC, CBS, ABC,
NPR and PBS to disclose 100% every single donor including those of the Uberleft Media Matters. Shall we stand and watch? Nah...not one of these imbeciles will do a thing against the Left...they is one!!

Media Matters, an arm of the Democratic Party....even more so than Politico, if that is possible...........hides the identity of everyone associated with it. It also carefully censors all posts on its site
What a hypocritical joke !!

This is an interesting article but the editors flubbed the one guy's title. Sir Roderick Eddington is correct. However, it cannot be shortened to Sir Eddington if it is shortened it would be Sir Roderick

An ugly picture is starting to form around Republicans using secret money, money that even Rupert Murdoch won't come clean about, and using it to influence the outcome of the United States midterm elections. Just what does Mr. Murdoch expect to gain from his large donations?

Posted By: An ugly picture is starting to form around Republicans using secret money, money that even Rupert Mu | October 15, 2010 at 04:57 PM

"committed to democratic values and social justice"
Yeah, codewords for communists. Combine that with the mention of Media Matters, a propaganda arm of the DNC and there you have it.
Another worthless article from the journ-o-list. Back button here I come!

Those who are bashing Media Matters are clueless tools, despite the fact that they are a liberal media watchgroup they are not an arm of the DNC, just because they discredit Fox on a dailly basis and call out conservatives does not make them lapdogs for the Democrats.

WHO is grilling Bill and Amanda Gates over their subsidizing liberal programming?? WHO is grillinn George Soros, qwho is grilling Warren Buffet, who is grilling Jeff Immelt? Who is grilling ALL of Hollywood??? Where is the beef?

Corporations are NOT democratic institutions, and their non-democratic psyche is about protecting their shareholders and the value of their shares... and that's about it. Traditionally, the entities are soulless and have no vision for social justice... they are unbound to uphold democratic ideals or principals. Murdock and his million-dollar donor buddies are not out for an America run by "the People"... They're out to take over completely by buying the Republican Party lock, stock and barrel. Americans... better be careful what you wish for... this one will come back to bite us all, raise the prices, and subject the People to an autocratic republic.

The News Corp board is there to make money for its shareholders. Fox laps all the cable news networks combined and has larger nightly viewership than ABC, CBS and NBC.
If these libs don't care about money let them invest in the other news networks that support their liberal policies.
I however am very proud of the News Corp Board's leadership and their political investments.

It's time for Rupert Murdoch and Fox Republican Tea Bagger News to come clean and tell the shareholders how much Saudi money has been used to buy November's election by supporting the Republican power grab. Is anyone naive enough to think that there are no strings attatched to all that foreign money? Specifically outsourcing millions of American jobs in return for all that foreign money.

The doctor in Pennsylvania needs so me attention... He's sick, alright, but the prognosis is that it's mental health he requires... and a lesson in the Bill of Rights. I'm imagining that this "provider" is primarily concerned with the value of his shares... not the human community.

Laura Shaffer Campos is a progressive kook pushing every left wing cause in the book. The Nathan Cummings Foundation is the front for a progressive scheme to silence conservatives in the corporate world. They buy shares in a targeted company, and then try to move it to the left by harrassing shareholders.

I had an interesting 12 minute exchange with Rupert at the AGM today. Sir Rod appeared weak as lead independent director. The audio is worth a listen here http://www.maynereport.com/articles/2010/10/16-0232-6147.html

First, an investment of $52,000 is NOT a few shares, but about 1,000 ( what traders call a "full block.")
Second, last year share holders (aka, the owners) were roundly condemned for nor being more directly in the actions and prevent such abuses of share holder trust as we saw with Enron. Now, when it is an icon of the international-right facing the heat for a potentially illegal move to buy off Congress, the critics are condemned as tools of some left-wing media machine. Feeling a little uncomfortable with the shoe on the right foot?
Last, it seems that Murdoch's justification for the donation is that RGA "gift" is a long-standing personal relationship. Is he saying that News Corp's profits are his, to be spent as he sees fit? I'd love to see how the money was accounted for on the company's tax return. A a minimum, it should be treated as a bonus to Murdoch, to be used as he would see fit, but on which he would be required to pay taxes.

DID you MISS the fact that News Corp ( Fox's parent company ) donations go to DEMS 2 to 1 ???
===========================Fox News political contributions, 2-1 (40-21) Democrat over Republican. =========
New York Times political contributions, 9-1 Democrat over Republican.
NBC/Universal political contributions, 15-1 Democrat over Republican.
========================
The Progressive, Liberal Commies are trying to scare Corps. from giving to Repubs. Bunch of thugs and corrupt hypocrites , aren't they ?

Do the shareholders really think Rupert Murdoch gives a hoot?
The “reputational risk” has already occured and the damage is done.
Big Money (Murdock), (Media) controlling information to the public and the GOP is nothing new. Hearst did it for years and years and years.

Nothing new here. Everybody knows rupert the bigot is a rightwing racist and FOX hatemonger who set fox up as the republican parties 24/7 propaganda outlet. He's scum and everybody already knows that. Hell he sabotages our country on an hour by hour basis. But the republicans love that. Traitors backing traitors. Simple as that.

Posted By: Nothing new here. Everybody knows rupert the bigot is a rightwing racist and FOX hatemonger who set | October 15, 2010 at 07:54 PM

Something we will never see on Politico or the rest of the Democrat media:...George Soros grilled by fund investors for creating reputational risk in donating $10's of MILLIONS to supporting radical leftists. Worse most of them have been outed in the new mainstream media caught lying. Also for Soros' use of sleaze, evasion of the obvious facts and personal attacks against private citizens. All of these Soros activites are bad for investment.

Read the Nathan Cummings Foundation mission statement, and you'll see that their activism is not innocent and altruistic.
http://www.nathancummings.net/shareholders/Changning%20Corporate%20Behavior%20thru%20Shareholder%20Activism.pdf

Posted By: Read the Nathan Cummings Foundation mission statement, and you'll see that their activism is not inn | October 15, 2010 at 08:19 PM

How any red-blooded American can have no concern about a wealthy foreigner setting the pace for a takeover of the United States government is beyond me. How can any real American who cares about our basic, fundamental tenants be unconcerned at the same time about this foreign influence upon our electoral process? Apparently the doctor in Pennsylvania wants this influence and places a higher value on his shares than on his slowly eroded rights under the U.S. Constitution. Wall Street would be nothing without the rest of us... The world would fail to function with the human community pulling together. It's time to bury Ayn Rand and get on with creating a future for the nation.

Interesting. The Nathan Cummings Foundation,“rooted in the Jewish tradition and committed to democratic values and social justice,” owns a relatively small amount of News Corp. stock, valued at about $52,000.
That's just enought $$ to allow the hypocritical obamanoids to spew their vitriol -- without regard to support for obamite foundations and other Fascistic organizations by the New York Times, L.A. Times et al.
And, of course, "liberal watchdog Media Matters" is hyperventilating at the prospect that News Corp. would dare contribute to Liberty - rather than certain, future slavery under obamism.
BTW, "social justice" is espoused by The Nathan Cummings Foundation? Is that correct? Go here for the lowdown on "social justice": Barack Obama's Rules for Revolution-The Alinsky Model; www.frontpagemag.com

"Others speaking on behalf of the foundation pressed Murdoch on the risks associated with such a large donation to the U.S. Chamber of Commerce, considering the controversy around the organization in the news.
Murdoch insisted “there are no scandals, there are only allegations” about the Chamber, and pointed to a story in today’s Wall Street Journal as an indication that the relationship between the White House and the Chamber have some hope for improvement in the Peter Rouse era."
And there certainly won't be anything said about it on Fox News. So Fox is in line to become our new "state news" by buying out the politicians and Republican party.

Posted By: "Others speaking on behalf of the foundation pressed Murdoch on the risks associated with such a lar | October 15, 2010 at 08:45 PM

It takes a real clueless imbecile to agree with Democrats who attack Rupert Murdoch for doing what CNN and NBC has been doing for years. Take the following link for example: http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Obama-Democrats-got-88-percent-of-TV-network-employee-campaign-contributions-101668063.html ....................2 problems are that people like this have a chokehold on our government right now and they vote. Sick of the slander based on lies from the Democrats. . . . . . . . . . "Disclosure of the heavily Democratic contributions by influential employees of the three major broadcast networks follows on the heels of controversy last week when it was learned that media baron Rupert Murdoch’s News Corp. contributed $1 million to the Republican Governors Association."

"In August 2008, a former Washington director of MoveOn.org — the smear merchant group that branded Gen. David Petraeus a traitor for overseeing the successful troop surge in Iraq — announced a brazen witch hunt against Republican donors. Left-wing political operative Tom Matzzie told The New York Times he would send “warning” letters to 10,000 top GOP givers “hoping to create a chilling effect that will dry up contributions.” Matzzie bragged of “going for the jugular” and said the warning letter would be just the first step, “alerting donors who might be considering giving to right-wing groups to a variety of potential dangers, including legal trouble, public exposure and watchdog groups digging through their lives.”"
"Matzzie also put up a $100,000 bounty for dirt on conservative political groups “to create a sense of scandal around the groups” and dissuade donors from giving money. The effort was cheered by Accountable America adviser Judd Legum, founder of Think Progress — the same group leading the attack today on the U.S. Chamber of Commerce."
http://michellemalkin.com/

Today's Chamber is not the one that we knew of a couple of decades ago. Today's Chamber is a national organization whose sole purpose is to promote shipping jobs overseas, watching out for the corporations (such as News Corp) and watching out for their coffers (of which they are pulling foreign cash), and making sure the government is in their pockets (Republicans). The Chamber I remember helped main street merchants, but then Wal Mart came in and main street dried up.

"Nathan Cummings Foundation, which had submitted a letter to News Corp.’s board, obtained by The New York Times's The Caucus blog, earlier this week asking for complete disclosure all political donations by Friday’s shareholders meeting, recorded by liberal watchdog Media Matters.
The foundation, which describes itself on its website as “rooted in the Jewish tradition and committed to democratic values and social justice,” owns a relatively small amount of News Corp. stock, valued at about $52,000."
Lousy reporting Politico try the rest of its left wing mission statement:
To create a stronger and more socially just society by building the field of Art and Social Justice
To address the challenges of climate change
To improve Americans' health by ensuring that all people in the United States have access to high quality and affordable health care.
To promote innovation in furtherance of the foundation's core values of social, economic and ecological justice.
So they promote Social Justice (redistribution of wealth), Cap and Tax, and Obamacare and are worried about Fox's reputation. LOL these lefty thugs just want to shut down free speech they disagree with.

Fox is in the pockets of the republicans, or is it the other way around. Whatever! All I know is that you can't trust the news, if that's what you want to call it, from a network that has donated over $2,250,000.00 to ONE party, It just doesn't pass the smell test. What's that saying, if it walks like a duck, looks like a duck, then it must be a duck!

Posted By: Fox is in the pockets of the republicans, or is it the other way around. Whatever! All I know is tha | October 15, 2010 at 11:51 PM

I love the "sources" these wingnuts use as "evidence" -- Michelle Malkin, the Washington Examiner. LOL. But the best is Murdoch himself, citing a story in his own Wall Street Journal to "clear" his name. That's priceless. This guy's been duping Fox News viewers so long he thinks EVERYBODY's that stupid.
BTW, what happened to the wingnut's vaunted concerns for property rights. I don't care who the Nathan Cummings Foundation is or what they support. They own shares. They got a right. These wingnuts sound like socialists to me.

just an observation, but man oh man, look how many of this site's articles are about campaign money, who's got it, who doesn't, where's it coming from, yadda yadda. there are other reasons candidates win and lose elections.

This clearly and dramatically demonstrates the fallacy of the Roberts Court reasoning in overturning the century-old precedent against direct campaign contributions by companies and unions and other groups. The owners of the corporations are the stockholders, and large corporations are characterized by a 'separation of ownership from control'. The stockholders of News Corp. were never consulted or even informed of the political campaign contributions supposedly made by them as owners of the company. Boards of directors are not chosen democratically and are not elected based on their political views but for business management and administration ability as are the appointed executives. To allow corporate or union campaign contributions is a desecration of the First Amendment. It is obvious that money is NOT free speech and corporations are NOT individuals. Only individuals can vote, so only individuals should have a constitutionally protected right to free speech and to make campaign contributions. What is needed is a delegitimizing of rights for 'artificial individuals' as real individuals from the constitutional perspective. And, of course, foreign campaign contributions should be barred. Sir Eddington is obviously NOT American! This makes a total farce of American democracy!

The parent company of NBC/MSNBC has donated more than $1.1 million to Democrats during the 2010 election cycle.
http://www.opensecrets.org/orgs/summary.php?id=D000000125
One wonders if they wrestle with similar questions?

Posted By: The parent company of NBC/MSNBC has donated more than $1.1 million to Democrats during the 2010 elec | October 16, 2010 at 05:15 AM

The parent company of NBC/MSNBC has donated more than $1.1 million to Democrats during the 2010 election cycle.
http://www.opensecrets.org/orgs/summary.php?id=D000000125
One wonders if they wrestle with similar questions?

Well said, Mr. Sigel, but I don't think the Roberts court cares much about "logic," much less any "flaws" in it. The Big 4 are in favor of corporate control of our country. That's who has advanced their careers. That's what they were hired for. I won't call Scalia a fascist, but he is a known admirer of Mussolini. 'Nuff said. So they'll make a minimal effort to write an opinion that's not laughable, but all they really care about is the result. If it comes down to it, they'll issue an opinion they won't even sign their name to, a la Bush v. Gore. The law is what they say it is. It's good to be the king.
And since you and I both do, it is interesting to note how few of the wingnuts are willing to post under their real names. I count exactly one. Cowards as well as cretins. Nice combination.

They own shares in the company and are looking into the dealings of said company. To all those on the right take a lesson here, this is capitalism working. You cannot turn this into a blame cbs,abc...bla bla bla issue, this is about shareholders holding the people running the company accountable for their actions. It is a hollow gesture as Murdoch alone holds enough shares to do what he wants, but transparancy is never bad. I wish more shareholders would hold more companies to the fire on these issues, Big Business really has no place in Big Government.

Posted By: They own shares in the company and are looking into the dealings of said company. To all those on t | October 16, 2010 at 02:39 PM

There is nothing these investors can do but sell out quickly before the stock continues to tank. After these donations there is simply no way to get the words "objectivity" and "Fox News" back in together again.
The damage has been done and only the fools will be left holding these investments. Now that the Congress is about to be more contentious than ever and Fox News will be blamed for helping make that happen, you can short the stock and make a killing.

Really now, flailing around bashing the source or the dems in an attempt to change to subject is not going to make this story change /waggles finger of shame at those of you who tried that
The fact is this type of donation should not be happening by a company so involved in reporting the news regardless of political party and it gives a taint of bias to any company that does.

Remember when Bubba got money from the Chinks and gave them info in return. He should have been jailed for that. BO has also taken foreign money. He is just lying to you left wingers who don't know any better. Did you see where he told David Brooks there were no shovel ready jobs a long time ago. It was off the recordf. What kind of citizen does that make Brooks? He know all this time the Won was lying to all of you suckers. Maybe you deserve to be out of jobs and lose your homes for your ignorance. What do you think?